Subrogation Refers to the Right of a Co-Surety to Recover

question 14

True/False

Subrogation refers to the right of a co-surety to recover from the other co-sureties the amount paid above his or her proportionate share of a debt.

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Definitions:

Liability

The state of being legally responsible for something, such as a debt or obligation.

Statutes

Laws enacted by legislatures at the federal or state level, which serve as the written rules and regulations that govern society.

Prize Roses

Specially bred and highly valued roses that are often grown for competitive display in horticultural shows.

Wild Orangutan

A species of great apes known for their intelligence and dwell primarily in the rainforests of Borneo and Sumatra, facing threats from habitat destruction.